With the current state of the U.S. economy, vehicle repossessions are nearing record highs. Couple that with the fact that automakers are losing millions in the leasing business and something has to give. In order to combat the typical ‘the check is in the mail bit’, both Toyota and Ford have stepped up their financial monitoring.

Thanks to a tracking system perfected by Netflix, Ford and Toyota’s financial arms are now able to better track both inbound and outbound mail.

The system utilizes bar-codes and a nationwide network of bar-code readers implemented by Kansas’ DST at U.S. post offices. When car payments are sent in a specially marked envelops, DST’s system can notify Ford or Toyota as soon as the check arrives at the post office. In the same vein, the system can also notify the automakers when statements are delivered to the customer.

The system also promises to eliminate mistakes, such as late payment notices to customers who have already put the check in the mail. Not only does this cut back on headaches, but also the cost associated with unnecessary paperwork. “It’s a significantly reduced cost compared to a phone call or postage on a past-due notice,” David Barcz, collections vendor relationship manager for Toyota Financial Services, told Automotive News. “And we are more successful if we are focusing on those who truly haven’t paid us.”

Despite the recent trend towards electronic payments, the bar-code system looks to be working for Ford and Toyota and will likely be adopted by other automaker in the near future.

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